The blockchain project AI16z, which operates on the Solana network, briefly reached a market capitalization of US$1.5 billion on Saturday.

It declined to approximately US$1.3 billion the following day.

The token, described as an AI agent-backed decentralized venture fund, is the first Solana token to surpass the US$1 billion mark.

Built under Solana’s Token 2022 standard, AI16z experienced a tenfold increase in value over the past two months.

This growth has been fueled by interest in AI agent technology from both retail and institutional investors.